For the first time in more than three years, the rate of serious mortgage delinquency deteriorated at the Federal Home Loan Mortgage Corp.
Last month, Freddie Mac generated $28.965 billion in purchases and issuances.
That was according to the McLean, Virginia-based secondary mortgage lender’s monthly volume summary for January 2016 released Wednesday.
Activity tumbled from the prior month, when there was $34.028 billion in
purchases and issuances.
But volume improved over the same month last year, when secondary activity totaled $25.310 billion.
Freddie’s total mortgage portfolio was $1.9441 trillion as of Jan. 31, 2016, expanding from $1.9416 billion at the end of last year.
At the same point in 2015, the total mortgage portfolio was $1.9088 trillion.
Last month’s total was comprised of an $0.3496 trillion investment portfolio and $1.5945 trillion in outstanding mortgage-related securities and other guarantees.
Ninety-day mortgage delinquency inched up one basis point from December to 1.33 percent.
It was the first time the 90-day rate increased since September 2012, when it came in at 3.37 percent.
But the rate of serious delinquency stood well below 1.86 percent as of Jan. 31, 2015.
On its apartment loans, the rate of 60-day delinquency climbed two BPS to 0.04 percent and was up one basis point from a year previous.
